Deal sells units at $0.89 apiece; proceeds used for corporate purposes
By Devika Patel
Knoxville, Tenn., Dec. 20 - Netlist, Inc. arranged a $1.5 million public offering of units, according to a prospectus supplement filed Thursday with the Securities and Exchange Commission.
The company will sell 1,685,394 units of one common share and 1.35 warrants at $0.89 per unit. The units may be separated.
Each warrant is exercisable at $0.89. The strike price is identical to the Dec. 19 closing share price.
The offering will be conducted by Ascendiant Capital Markets, LLC.
Settlement is expected Dec. 26.
Proceeds will be used for general corporate purposes.
Irvine, Calif.-based Netlist designs, manufactures and sells memory subsystems primarily for the server, high-performance computing and communications markets.
| Issuer: | Netlist, Inc.
|
| Issue: | Units of one common share and 1.35 warrants
|
| Amount: | $1.5 million
|
| Units: | 1,685,394
|
| Price: | $0.89
|
| Warrants: | 1.35 warrants per unit
|
| Warrant strike price: | $0.89
|
| Agent: | Ascendiant Capital Markets, LLC
|
| Pricing date: | Dec. 20
|
| Settlement date: | Dec. 26
|
| Stock symbol: | Nasdaq: NLST
|
| Stock price: | $0.89 at close Dec. 19
|
| Market capitalization: | $24.43 million
|
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